Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price objective increased by Deutsche Bank Aktiengesellschaft from $80.00 to $85.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 9.34% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada lifted their price objective on shares of Affirm from $77.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Stephens increased their price target on shares of Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a research report on Friday, March 27th. Oppenheimer reissued an “outperform” rating and set a $87.00 price objective on shares of Affirm in a research note on Friday, May 8th. Finally, BMO Capital Markets began coverage on Affirm in a research report on Tuesday, April 21st. They set an “outperform” rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.68.

Affirm Price Performance

Affirm stock traded up $0.08 during midday trading on Thursday, reaching $77.74. 638,310 shares of the stock traded hands, compared to its average volume of 5,776,809. The stock has a market cap of $26.03 billion, a P/E ratio of 70.85, a PEG ratio of 4.13 and a beta of 3.70. The stock’s fifty day moving average is $67.00 and its 200-day moving average is $62.60. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm has a 12 month low of $42.10 and a 12 month high of $100.00.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. During the same quarter in the previous year, the company posted $0.01 EPS. The company’s revenue was up 32.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Affirm will post 1.25 EPS for the current year.

Insiders Place Their Bets

In related news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director directly owned 36,076 shares of the company’s stock, valued at $2,344,940. This represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Affirm during the 4th quarter valued at $281,961,000. Invesco Ltd. increased its position in shares of Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after acquiring an additional 3,234,260 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Affirm by 11,042.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after purchasing an additional 2,141,881 shares in the last quarter. Atreides Management LP lifted its holdings in Affirm by 543.3% during the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after buying an additional 1,670,429 shares during the period. Finally, State Street Corp lifted its holdings in shares of Affirm by 26.7% during the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after purchasing an additional 1,187,665 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.